Conventionally, an Ni-base dual multi-phase intermetallic compound alloy has been known as an alloy that shows superior properties at high temperatures (see Patent Documents 1 to 3, for example). This alloy has a dual multi-phase microstructure composed of a primary precipitate Ni3Al (L12) phase and an Al (fcc) phase existing in channels (upper microstructure); and a lower microstructure including Ni3Al (L12) and Ni3V (D022) formed through a eutectoid transformation from the Al (fcc) at a low temperature. The alloy therefore has excellent mechanical properties at high temperatures.